It's interesting to me that as gas prices skyrocket, it's all blamed on supply vs. demand. Seems like a good argument,right? All the while big oil posts obscene profits while still being subsidized by the govt. (i.e. the taxpayer) The one glaring difference I see from the current situation and that of the Arab oil embargo of the early seventies is this: I have yet to see a single gas station that is out of gas. Not one, at least here in Missouri. During the oil embargo when there truly was a shortage, stations ran out of gas and those that had it rationed it. Has anyone here seen any of that? Sure makes me wonder. Keep in mind as the prices in Europe skyrocketed most of that was from increased taxes to steer the country towards more fuel efficient autos and it worked. Here in the good ol' USA it seems to be nothing but pure profit for big oil while you and I are literally held up at the pump.
All the while our administration's silence is deafening. Seems to me like big oil is gonna get what they can while they still have friends in high places.